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July 28, 2009 • Posted by Samantha Robinson

Who & What Are SmartyPig Retail Partners?

Here’s a question for you:  why would we (SmartyPig that is) partner with a retailer?  Isn’t our sole focus in life to help you save for your goal? So isn’t partnering with a retailer akin to waving a big, shiny carrot of temptation in front of your nose?  Savers and Goal Setters, we bring you good news.  There’s a darn good reason for joining forces with the retailers – and that’s because YOU get the rewards.

Here’s how it works. Once you’ve reached your goal you have a couple of options to choose from.  You can choose to transfer your savings plus interest back to your bank account.  Or to really get some bang for your buck, you can redeem your savings plus interest as a gift card from one of our retail partners and you’ll be rewarded with an additional percentage on top*. That’s an additional and unbelievably fabulous amount on top of the money you’ve saved and in addition to the interest paid.  And if that’s not a sweet deal then we don’t know what is.

So now it’s time for the shameless plug.  'Who are these mystery retailers?’ we hear you cry.  Introducing SmartyPig’s Best-in-Class retail partners:  Adairs, Baby Co, Blue Holidays, Bunnings Warehouse, David Jones, Freedom Furniture, Harvey Norman, JB Hi-Fi, Myer, Rebel Sport, Target. From homewares to hardware, furniture to fashion, technology to travel (and let’s not forget the baby either!), regardless of your goal, we’ve got you covered.  When you think about it, what’s not to love about an option that lets you purchase your hard-earned goal at your favourite store with that added bonus of a little extra on the side.  Brilliant.

‘Til next time

Team SmartyPig.

By the way – we’re always looking to add new retail partners to our list, so if there’s anyone you’d like to see added – please let us know!

*The actual % amount varies from retailer to retailer, but is usually between 4% – 8%. If you’d like to see what the current percentage is for your retailer of choice, just click 'stop goal’ when you’re logged in to SmartyPig and you’ll be able to select each retailer and view their relevant % from the dropdown list. Don’t worry, this won’t actually stop your goal unless you complete the process!

 

 

 

 

 

July 21, 2009 • Posted by Samantha Robinson

10 Ways To Find Extra Money (For Your SmartyPig Goals!)

Dollar Army

It’s frustrating isn’t it? You’ve finally set your goal, committed to a budget and embarked on your savings plan, yet it all seems to be happening so slowly!  While we know that it won’t happen overnight, there must be a way to give our savings a little boost along the way. Lucky for you, the team here at SmartyPig have done their research and present our Top Ten Ways to Make Extra Money. Drum roll please.

  1. Sell your unwanted stuff on eBay. Here’s a fact you may not have known. According to Kate Perry at News.com.au, the average Australian woman has around $725 worth of unwanted clothes just sitting in their wardrobe. And if that doesn’t get your heart racing, the mind ticking and the dollar signs flashing then how about this: eBay sells a women’s dress every 18 seconds, a pair of women’s jeans every 18 seconds and a pair of shoes every 3 seconds. Let’s not be forgetting all the other loot in your house too. Now, take a look around the kitchen, study or garage and you’ll soon realise, there really is money to be made in selling second-hand goods online and a potential market of literally millions of customers out there just waiting to buy. So grab your digital camera (what, don’t have one? Have you checked out eBay‘s selection?), and get selling!
  2. Have a garage sale. There are those of us, of course, who prefer to sell the old fashioned way at a garage sale. Sure you may not reach eBay’s 88 million users, but who wants that many people tramping through your garage anyway? So if you’re keen to keep it simple and local, the garage sale could be the way to go. There are some basic tips and rules to follow to get the most out of your sale, like checking with your local council (just in case you need a permit), promoting your sale, telling your neighbours, and being mindful of security. But first and foremost, get organised. If you’re looking for a quick “how to” guide, check out streetgaragesales.com.
  3. Get a second job.  Before you groan at the thought of doing even more work, think about the possibilities.  A few hours work at the local supermarket, cinema, bookstore or coffee shop every week, might just provide that buffer you need to really kick your savings into gear and help you reach your goal sooner. Or perhaps you have a marketable skill and you could do some freelance work? Take a look at sites like elance.com, odesk.com and ifreelance.com. If you keep to your current career area, you can even add these extra jobs on the side to your resume. One word of caution though, make sure you check out the tax implications of taking on a second job first and if in doubt, seek professional financial advice.
  4. Start your own business. Do you have a hobby or passion that you dream of turning into a business? Whether it’s baking cupcakes, making baby clothes or mowing lawns, running your own business can give you freedom and flexibility to be your own boss, work from home and choose your work hours.  Starting a small business and making it a success requires hard work, focus and commitment but the rewards can be enormous. So before you print your business cards and develop the business website, take the time to do a little research first.  As a starting point, visit the Australian Government’s site on how to start your own business.
  5. Take on a boarder.  Have you ever thought about tapping into your home to make some extra coin?  If you’ve got a spare room (and a spare bed), maybe you could take on a boarder? A mum of one of our team members does it and reports that it’s a rewarding experience. You might even get to learn bits of another language too if you take on an international student. Just make sure you understand any tax implications first.  
  6. List your home. Could your home feature in TV or the movies?  Location scouts are always on the lookout for that perfect setting, so why couldn’t it be your home? Remember, locations can be everything from mundane to spectacular so don’t rule it out immediately. Check out Location Scouts Australia for more detail on how your home could feature in the latest commercial, TV show or feature film.
  7. Sell yourself.  While we’re on the topic of all things film and TV, have you ever thought about becoming an extra?  You don’t have to look like Angelina or Brad to get a gig on TV – your 15 minutes (or seconds) of fame might just come from being a face in the crowd, a shopper in the supermarket or walking across the street.   People of all ages, shapes and sizes and from all walks of life can potentially find work in local productions so why not you?  While you may not command Julia Roberts’ fee, it’s all extra cash and you just never know who you might meet on set.  To get the ball rolling, head to Google and find your nearest Talent Management Agency!
  8. Become a Mystery Shopper. Ever thought about the fact that someone will pay you for shopping or dining out?  Many retailers and service organisations employ mystery shoppers to test the quality of their customer service and products.  All you need to do in return is write up a detailed report of your visit.  To find out more about the clandestine world of Mystery Shopping, visit Shop Angels.
  9. Check the couch! Ok, so you may not find $1000 down the back of your couch, but you may be lucky and score a few extra coins that all contribute to the bigger picture.  Also check any handbags you haven’t used for a while, the pockets of your jeans and jackets and your luggage.  Before you know it, you’ll have scavenged a tidy sum without raising so much as a sweat!
  10. Be brave and ask for a pay rise.  Tough call, we know, especially in the current economic climate.  But if you think you deserve it – and have the information and data to back it up – why not give it a go?  Just make sure you have a clear idea of what you’re asking for,  be able to articulate what value you bring to the company, and catch your boss at a good time (and hopefully in a good mood!). If you get turned down though, don’t despair – ask what you’d need in order for the answer to be a yes. More qualifications? An increase in responsibilities? Whatever it is, come to an agreement that makes it clear what your path is to success. Good luck!

Whichever way you look at it, there are opportunities out there to make extra money and reach your goal sooner – you just need to be a little creative and prepared to broaden your horizons.  And in the meantime, SmartyPig will keep you and your savings on track.

'Til next time,

Team SmartyPig

July 20, 2009 • Posted by Samantha Robinson

Instant Gratification – how big is your TV?

Coins

 

Just wondering, how big is your TV?  It’s amazing how there’s this perception out there that the size of your TV (and, come to think of it, how thin it is!) now seems to speak volumes about you. It doesn’t seem to matter how big your home is, how much space you’ve got to keep it, how many languages you speak, that you went bungee jumping with the Pope back in his youth… or if you can actually afford the telly anyway –  it’s all about “the TV”.  That, and keeping pace with the latest, greatest technology that your best friend/colleague/class mate/cousin/next door neighbour has.  So sign up, sign up and move with the times.  Rent, borrow or use the credit card, but whatever you do, don’t be caught out with an antiquated analogue TV from the last century!

This got us thinking.  What’s with this current culture of instant gratification and why are we so reluctant to wait – and save – for the things we really want?  We’re not talking about the big ticket items here – the house, car or overseas holiday – but those smaller items on our wish list (like the new TV) that we convince ourselves are absolutely essential to life and simply must be acquired now, regardless of how we get them (within the bounds of the law of course!).  How easy it is to just pull out the credit card, sign up for a store card or enter into a finance arrangement which offers a hard-to-refuse interest-free period?  Without even raising so much as a sweat, you’ll soon be sitting back enjoying your surround-sound cinema experience.  Except for that tiny matter of actually paying for it.  So to avoid the debt trap, ask yourself, can you pay off your credit or store card before you’re charged interest?  Will you pay off your loan BEFORE the interest-free period expires? Honestly?  If the answer is no (or perhaps, or possibly), maybe you’d do best to find another option. 

As one of our dad’s used to say – if you want it so much, then *why* is it not worth saving for?

Isn’t that a novel thought?  Why not go old-school and save the money first?  That way, you know that once you leave the store, that big-box-full-of-tv-dreams is 100 per cent all yours. 

Shameless Plug Time

All you need to do work out your budget, add a new savings goal in SmartyPig and you’re on your way.  And with our great interest rate, you might even get there even sooner that you think!  Once you’ve reached your goal, you can receive even more bang for your buck by redeeming your savings (plus interest with a value boost) on a gift card from one of our best-in-class retailers. (Just don’t forget to check out the incentive rates and card terms on each one before you redeem.) With JB Hi-Fi, Myer, David Jones and Harvey Norman to choose from, chances are you’ll find exactly what you’re looking for.

It’s a no-brainer really.  All you need to do is give credit the flick and start saving instead.  You’ll be in the digital age before you know it.

Enjoy the show!

Team SmartyPig

July 17, 2009 • Posted by

SmartyPig Giftcard Giveaway – July

Welcome to the results show for the first ever SmartyPig Australia Twitter giftcard giveaway!

The first 20 people to send in a correct entry were:

  1. yujiadu
  2. mvjs
  3. davlady
  4. ilazarus
  5. jigesh
  6. timmmayers
  7. andrewlparker
  8. mell19811
  9. housebricks
  10. bellad26
  11. kyliejones86
  12. mum5boys
  13. carlyfindlay
  14. chocpotatoes
  15. miss_e_81
  16. mattfindlay
  17. elp
  18. corinnepaterson
  19. carnagefairy
  20. manderinne

The three winners of the $100 SmartyPig gift cards were: miss_e_81, liazarus and chocpotatoes. If you haven’t already, please send us a DM via Twitter with your mailing address so we can send you your gift card!

Thanks to all our players and we hope to see you again next month for giveaway number two!

July 16, 2009 • Posted by Samantha Robinson

Saving For Your First Home

Cottage

Is it time to start aiming for your own piece of the Great Australian Dream?  It’s such a daunting prospect and unless you’re planning on winning lotto, unexpectedly inheriting a small fortune, or are one of the lucky few for whom money is no object, you’re probably wondering how you’ll ever save enough money for that all-important deposit. Hate to break the news to you but there’s really no other way around it – you need a goal, commitment and willpower.  But with the right attitude and a budget, anything is possible.

Now that we’re on course to join the home owners club, there are a few things that need to be considered first:

  • Can you afford to live in your location of choice or are you ultimately willing to compromise on location to achieve the dream? If your heart says Toorak but your hip-pocket begs to differ, it might be time to take an overdue reality check. Find out how much you can potentially borrow first, then start researching the areas you can afford to find that dream abode.
  • Have you thought about all the “hidden” costs associated with buying a house? You may think you know how much money you need for a deposit, but have you factored the costs associated with stamp duty, legal fees, insurance and rates into your budget? Money Magazine details the maze of fees and outlays which are all part and parcel of buying a home, and that’s before you’ve even booked the removalist!
  • Can you manage your debt? Be wary of biting off more than you can chew just to get into the market. You may be able to make your payments now, but what would you do if interest rates rise? It seems a long time ago now, but in the not-too-distant past, interest rates were skyrocketing and many people were struggling with meeting their mortgage repayments. Most financial institutions have online home loan repayment calculators to help you work out how much you’d need to repay if interest rates rise (or fall). Ignorance, as they say, is really no excuse so do your research now to avoid any stress later.

Anyway, that’s all very serious stuff (and terribly grown up).  It’s now time to get on the budget bandwagon and make tracks towards your goal.

As a starting point, realestate.com.au has some fantastic tips on saving and buying your first home.  The Home Buying Institute (based in the UK) has also pulled together its top 15 savings tips for future home buyers. 

Then you know what you have to do next – your sums.

  • How much have you saved already? It really doesn’t matter what it is, it’s a start (yes, even if it involves scrounging 'round the back of your couch cushions for spare change).
  • What’s your timeframe? Regardless if it’s six months, a year or much longer, setting a target date will help you determine how much you need to save every month to reach your goal. Lucky for you, SmartyPig is here to help. Just set up your profile with a target goal (eg, the deposit on your home) and SmartyPig will calculate how much you need to save each month, direct debit that amount from your everyday bank account and pay you interest. So while you’re working hard to achieve your goal, your money is hard at work too! As you know with the social side of SmartyPig, you might get some help directly from your friends and family so be sure to share your goal!
  • If you’re not sure how much you can afford to put aside each month, consider using a budgeting tool to help you work out what your disposable income is and what you can put aside. ANZ MoneyManager is a completely free semi-automated budgeting tool that anyone (no matter who they bank with) can use.
  • If it all seems a bit too much like hard work… remember: people have done it before. You can too.

Finally, don’t forget you’re in this for the long-haul.  Buying your first home will be an expensive exercise but just think of the long-term investment.  So keep your eyes firmly fixed on the prize and before you know it, you’ll be hanging that “Home Sweet Home” sign right beside the front door and hosting your first house-warming party.  Just hope we’re invited!

Until next time,

Team SmartyPig

July 13, 2009 • Posted by Samantha Robinson

Tell us what YOU really think.

Have you ever made a New Year’s resolution in July?  Technically, it is the start of a new [financial] year so maybe it’s the ideal time to review that list of promises you made back on January 1 (it must be around somewhere….have you checked right at the back of the drawer under your gym membership card?). Got it?  Good.  Now we’d like to hear about it.  So grab your soapbox and climb on board.  It’s officially your time to shine.

Over the past few months, we’ve talked a lot about goal setting, budgets and planning for those big financial events in life.   But instead of just taking our word for it, what’s your story?  How are you using SmartyPig and is it everything it’s cracked up to be?

Log in to your SmartyPig account today and check your 'notifications’ (up the top of the page, just under the menu). You’ll see a note from us with a link to a survey.

You can use this survey to tell us your thoughts on SmartyPig and have the opportunity to join a thought leadership group to help define the future of SmartyPig!

So go on, tell us what you really think.  

Team SmartyPig.

July 10, 2009 • Posted by Samantha Robinson

Top Tips For A Holiday On A Budget

Last month, we shared some of our tips for achieving a goal and making your holiday a reality.  Now that’s sorted and your SmartyPig account has got your savings on track, all that’s left to do is find your passport, pack your bag and set off on your next great adventure.  But just before you go, we do have a few final gems to share that will make your precious savings go a little bit further.

Not to harp on a theme, but the best thing you can do to save money is research, research, research.  We’ve said it before, but we’ll say it again because there’s no excuse for not getting the best deal around when it’s so easy to compare and save.  So whether it’s getting the cheapest airfares (just be wary of the fine print and the taxes!), shopping around for some great accommodation rates (if you can bear taking the risk, leave those bookings as late as you can and book online through wotif.com or lastminute.com), or organising travel between cities or countries (on a train, boat, car or plane!), there’s bound to be a great deal on offer.  All you need to do is find it!  And you might be surprised.  Just because you have to travel on a budget doesn’t mean you can’t be creative and live it up! 

So to start you off, here’s a great site to peruse.  The Sydney Morning Herald has gathered some top travelers’ tips that will have you saving baht in Thailand, living it up in Paris (on the cheap!) or drinking with the locals in Argentina.  There’s also a great guide to how much cash you might need every day, once you reach your destination.  

We’re also big fans of the travel 'bible’ or guide book.  Thankfully, most are now available in handy sizes yet contain an amazing wealth of information on everything you could ever want to do, see and eat in your city or country of choice, regardless of  your budget.  From public transport tips to the best place to get a café latte or a local beer, we’re serious when we say, “don’t leave home without it”!  Ok, so we may have borrowed that line, (with apologies to American Express… or was it Superman that coined that one?) but this is really one book that should be tucked into your carry-on luggage, right next to your passport and your toothbrush.  There are so many to choose from but our favourites are Lonely Planet, Rough Guides and Travel Guides.   

And as for the best budget tips on holiday? Here’s just a few.

  • Use public transport where you can, or walk, because it’s even cheaper. Think of how much you’ll see along the way – and you get the added benefit of experiencing a place like the locals!
  • Buy food in local markets or supermarkets and take advantage of your new surrounds. Whether it’s a picnic on the beach or in a park, it’s a great way to really soak up the local atmosphere.
  • Avoid the tourist traps where you can. Riding a gondola on a Venetian Canal may be incredibly enticing, but is it worth the equivalent of a week’s accommodation?
  • Make the most of the free stuff on offer! Visit museums and galleries for entertainment. Many such places also have a cheaper or free day, so check it out in advance.
  • There’s a lot to be said for DIY touring. It’s cheaper, more flexible and you can do your own thing without having to listen to the annoying couples in matching parachute silk leisure suits!

The bottom line is that there’s so much advice and information on offer out there for travelling on a budget and it’s just waiting for you to discover it.  So once you’ve settled on your destination, maybe it’s time to throw out the preconceptions about what you can or can’t afford on your budget, open your mind and take off on the journey of a lifetime.   

Until next time, bon voyage!

Team SmartyPig

July 3, 2009 • Posted by Samantha Robinson

How To Save Money On Your Wedding

wedding setup

What is it about weddings that makes even the most rational of us lose our heads and throw caution – and our hard-earned savings – to the wind?  Especially in tough economic times, how can we possibly justify that it’s “ok” to spend tens of thousands of dollars on just one event (or just one dress… you know who you are)?  That’s not to make light of the significance of the big day, and, truth be told, most of us will only get married once, but is it worth starting married life in debt?

For some, the answer is a resounding no.  Elicia Murray reports in The Age that love is not only blind but apparently “it’s skint as well”.  Cut-price weddings are rapidly gaining favour with brides as they plan their fairytale weddings on shoestring budgets.  Then there’s the other end of the bridal spectrum, championed by the outrageously over-the-top extravaganza of Yanna and Costa. Each to their own, of course, but considering the wedding is reported to have cost an astonishing $70,000, doesn’t it make you wonder if it’s all worth it? 

Like any major occasion in life – be it buying a house or going on holiday – weddings require meticulous planning, a detailed budget and a commitment to save.  So, time to start thinking creatively about achieving your ideal wedding day on a budget that you can afford. 

  1. Alex at savingsguide.com.au itemises the essential wedding items that will cost you money and suggests how to save money on each. A simple decision, such as the time of year or day of week you choose to get married, can have a major impact on your budget. Winter is definitely the cheapest so invest in a warm cardigan to throw over the wedding dress and go for it!
  2. Here’s a sure-fire way to save valuable dollars. Buy a wedding dress off-the-rack or even second-hand on ebay. Who’s to know? But if your heart is set on that $10,000 designer frock and you simply won’t be budged, then maybe you’ll need to make your savings elsewhere.
  3. What’s with the entourage? Sure, the more, the merrier, but is it necessary to have everyone you hold near and dear to you as part of the wedding party? If you’re rapidly reaching the stage where your wedding table won’t fit at the reception, then perhaps it’s time to rethink and reduce. Your bank balance will love you for it.
  4. We’ve all attended weddings where we don’t know the bride or the groom. So to avoid that awkward moment of kissing people you’ve never met (there is a time and a place for that!), really think about the guest list in a very rational and objective way: do you want to spend $200 for your Mum’s best friend’s daughter and her boyfriend to eat, drink and be merry at your expense? Exactly.
  5. Teddy Lenderman, an author and wedding consultant provides a wealth of suggestions including having a mid-afternoon wedding where you serve cake and punch or champagne, instead of a full three-course meal. Post-wedding cocktail soirees are becoming increasingly popular as modern couples look to keep costs down but still enjoy a very stylish event.
  6. Ask a simple question and you might get some great answers in response. Kati posted a question on Yahoo about how to save money on her wedding and received some very 'real’ tips and tricks in reply.
  7. Grab yourself a copy of “1,001 Ways to Save Money . . . and Still Have a Dazzling Wedding” by wedding expert Sharon Naylor. With the average Australian wedding costing more than $25,000, this is a great source of budget-trimming tips and helpful websites.
  8. Immerse yourself in the industry! It’s a little known fact that in Australia we have more magazines per capita than any other country in the world, and we’re sure not short of bridal publications. Aside from magazines though (hot tip: read them at the library!), there is a wealth of virtually free knowledge available online, from real-life other couples in forums such as I-Do, to blogs (we love Polka Dot Bride). The bottom line is the more you read, the more you’ll hear of innovative cost-cutting options and discover there’s a gorgeous budget alternative to almost everything.
  9. Finally, consider setting up a SmartyPig profile, work out your goal (the budget!), tell your friends and family and you’ll soon be on your way to achieving your dream.

So before you walk down the aisle to say I do, I do, I do, take a moment to put things in perspective. When you really cut to the chase, what are the most important aspects of any wedding?  It’s simple really: the happy couple, friends and family.  Everything else is optional.  So whatever your budget, weigh up your priorities and enjoy the ride!

Team Smartypig

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